Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/71209
Authors: 
Stark, Oded
Falk, Ita
Year of Publication: 
2000
Series/Report no.: 
Reihe Ökonomie / Economics Series, Institut für Höhere Studien (IHS) 88
Abstract: 
We study the joint role of altruism and impatience, and the impact of evolution in the formation of long-term time preferences and in the determination of optimal consumption and optimal bequests. We show how the consumption paths of dynasties relate to altruism and to impatience and we reason that long-lived dynasties will be characterized by a higher degree of altruism and a lower degree of impatience than short-lived dynasties.
Subjects: 
altruism
impatience
intergenerational transfers
dynasties
evolution of consumption
evolution of bequests
JEL: 
A13
D11
D64
D91
Document Type: 
Working Paper

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